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Why Choose a LIcensed Mortgage Broker?

Why Choose a Broker

For many Canadians, the purchase of a home is likely the biggest financial investment decision they will make in their lifetime. To help realize the dream of homeownership, you'll want to work with a professional mortgage broker who will offer sound, professional advice and provide a mortgage solution that matches your needs and circumstances.

It is the job of a professional mortgage broker to stay ahead of the game, learning about the array of products available that best suit their clients’ needs. Generally, the broker is paid a referral fee by the lender, not by their client. Lending institutions will usually provide their best interest rates to the broker ensuring that, as the homebuyer, you don’t have to negotiate to get the best rate.

By assessing your needs, a broker will carefully weigh important decisions, such as lump sum payments and fixed versus variable rates, before they are made. A broker will also guide you through the process of completing and submitting mortgage applications and supporting documentation required by the lender. If the terminology seems a little confusing, your broker is there to explain important information and conditions set out by the lender as well as any steps required to close the mortgage transaction.

A few things to note about mortgage brokers:

  • Mortgage brokers are professionals and many are licensed by the province within which they work. They must maintain a high level of professionalism and keep up with all of the offerings and developments within the industry.
  • Mortgage brokers should have an established place of business. They have chosen mortgage brokerage as their career and demonstrate their long-term commitment to the industry. In this regard, they are no different than insurance brokers.
  • In order to best meet a consumer’s needs, mortgage brokers have a wide array of products from which to choose – mortgage banks, private sources, independent lenders, etc. And, a lender will deal with a broker only after a thorough selection process, checking references, interviewing and obtaining a copy of their broker licence.
  • In addition to the above points, and for obvious reasons, be sure that you have a good interpersonal rapport with the broker you choose. It’s all about trust, credibility and ultimately the relationship.

In short, consumers choose a mortgage broker for four reasons: choice, advice, service and savings. By considering these factors, you’ll be able to make an informed decision, comfortably.

Source: http://mbsweblist.fsco.gov.on.ca/

Here is a list of Licensed Mortgage Brokers in Ontario as of February 15th, 2018

V.I. Financial Group Inc.

Licence #: 11862
Principal Broker: IVANOV, VESSELIN
Contact Information: 46 Joanna Drive Toronto ON M1R4J1
Telephone: 416-385-9765
Status: Licensed

Vault Mortgage Corporation

Licence #: 10890
Principal Broker: TRAGER, ROBERT
Contact Information: 156 Duncan Mill Road, Unit 21 Toronto ON M4B3N2
Telephone: 416-571-6980
Status: Licensed

Vector Financial Services Limited operating as Vector Financial Services

Licence #: 10160
Principal Broker: MINTZ, NOAH
Contact Information: 25 Imperial Street, Suite 500 Toronto ON M5P1B9
Telephone: 416-483-8018
Status: Licensed

Verico AMC Atlantic Mortgage Consultants Inc.

Licence #: 12960
Principal Broker: WARD, GLEN
Contact Information: 31 Glencrest Blvd. Toronto ON M4B1L2
Telephone: 902-222-1444
Status: Licensed

Verico C.O.D. Financial Services Inc.

Licence #: 10311
Contact Information: 1945 Leslie Street Toronto ON M3B2M3
Telephone: 416-447-1818
Status: Licensed

Verico Capital Home Lending Inc.

Licence #: 12347
Principal Broker: LAVOIE, ALAIN
Contact Information: 865 York Mills Road, Unit #18 Toronto ON M3B1Y6
Telephone: 416-419-0359
Status: Licensed

Verico JP Mtg Services Inc. operating as JP Mtg Services

Licence #: 12050
Principal Broker: PARK, JOSEPH
Contact Information: 500 Sheppard Avenue East, Unit 305A Toronto ON M2N6H7
Telephone: 416-222-3222
Status: Licensed

Verico King West Financial Corp.

Licence #: 10882
Principal Broker: LAMB, BRAD
Contact Information: 778 King Street West Toronto ON M5V1N6
Telephone: 416-849-9223
Status: Licensed

Verico Lending Logic Financial Inc.

Licence #: 11782
Principal Broker: COLATOSTI, JASON
Contact Information: 96 Rexdale Blvd. Toronto ON M9W1N7
Telephone: 416-743-3863
Status: Licensed

Verico Mortgage For Less Corp. operating as Mortgage for Less

Licence #: 11125
Principal Broker: MITSKOPOULOS, NICK
Contact Information: 90 Davisville Avenue, Suite 200 Toronto ON M4S3E2
Telephone: 416-699-1010
Status: Licensed


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